Six-Unit Multifamily
For Sale
$950,000
8 3rd St, Passaic, NJ 07055
Six-unit multifamily property sold as-is, with a mix of occupied and vacant units requiring buyer due diligence.
Property Size2,588 SF
Price / SF$367.08
Days on Market104
Property Features for 8 3rd St
General Information
Standard status
Active
Size
2,588 SF
Additional Details
Multifamily Units
6
Building Details
Year Built
1900
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
LUIS MIRANDA · License #287630
(973) 839-0800
Source:
Luminancerealty
Added: Jul 9
Changed: Oct 10
Last Checked: Oct 5 at 10:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COLDWELL BANKER REALTY
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Investment Insights
Based on property information with market context.
This six-unit multifamily investment property is offered for sale strictly as-is. The current unit mix includes attic, second floor (rear and front), first floor, and basement levels, plus rear top and rear bottom units. According to the provided information, several units are currently occupied with monthly rent listed for those spaces, while others are vacant, including a second-floor front unit noted as vacant since last rented in December 2025 and a rear bottom unit noted as vacant since last rented in July 2005.
The buyer is responsible for obtaining a Certificate of Continued Occupancy (C,C,O.), smoke certification, and for any inspections or repairs required to close.
The seller’s materials reflect an opportunity to take over a multi-unit asset and address occupancy and property condition through a buyer-managed plan. Exact unit details and rent figures should be confirmed during due diligence.
The buyer is responsible for obtaining a Certificate of Continued Occupancy (C,C,O.), smoke certification, and for any inspections or repairs required to close.
The seller’s materials reflect an opportunity to take over a multi-unit asset and address occupancy and property condition through a buyer-managed plan. Exact unit details and rent figures should be confirmed during due diligence.
Key Highlights
- Six‑unit multifamily property built in 1900
- Sold strictly as‑is; buyer is responsible for required inspections and repairs to close
- Buyer must obtain Certificate of Continued Occupancy (C,C,O,) and complete smoke certification
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,798
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$795,960
$796.0K
Cap Rate 7%
$568,543
$568.5K
Cap Rate 9%
$442,200
$442.2K
Market Conditions
NOI Build-Up for 2,588 SF
Gross rent
$77.6K $30.00/SF
− Vacancy
−$5.3K −$2.04/SF
EGI
$72.4K $27.96/SF
− OpEx
−$32.6K −$12.58/SF
NOI
$39.8K $15.38/SF
Area
Passaic County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$795,960
Cap Rate 7%
$568,543
Cap Rate 9%
$442,200
Alternative Uses
Best Use
Apartment 5plus
$568.5K
$497.5K – $663.3K
NOI $39,798 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$675.8K
$591.3K – $788.4K
NOI $47,304 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,839
Businesses Nearby
Explore this area
Business Placement
Demographics for 07055, NJ
70,518
Population
21,019
Households
3.4
Avg Household Size
32
Median Age
17%
College-Educated
67%
High-School Grad
3.1 sq mi
ZIP Area
22,748
Density / Sq Mi
$56,780
Median Household Income
$30,935
Median Earnings
$1,392
Median Rent
$406,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property sold as-is, with a mix of occupied and vacant units requiring buyer due diligence.
Where is this apartment building located?
The property is located at 8 3rd St Passaic, NJ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Six‑unit multifamily property built in 1900; Sold strictly as‑is; buyer is responsible for required inspections and repairs to close; Buyer must obtain Certificate of Continued Occupancy (C,C,O,) and complete smoke certification
